Woodside Petroleum Limited, page-145

Kimbo, don't profess to be an expert on such matters, but here is how I see it going one of several ways:

1. New owner doesn't buy it directly. They become a cornerstone investor in FAR.
2. The proverbial egg is unscrambled, and FAR (with a loan from a TOTALly new upwardly Mobil Shell company) pay what it takes to get it. That leaves CNE and Petrosen with FAR. When FAR offer to sell to new suitor, PE clause is triggered, but neither CNE or Petrosen are interested at the new market price.
3. As above, but CNE elect to take PE (can't see Petrosen wanting more than a token interest), in which case they become operator and the loan is repaid.

Can't see why CNE would want to take up PE rights now at a higher price when they are looking to reduce their holdings and weren't interested when it was cheap.